Employees

Energy companies need to be proactive in policing the marketplace behavior of their employees, and when they find legal or ethical problems they need to be forthright in self-reporting transgressions to FERC, according to a Washington, DC, energy attorney who has closely analyzed the expanded federal enforcement policies granted the Commission in the 2005 Energy Policy Act (EPAct).

Higher costs and a sustained drop in natural gas prices appear likely to continue into 2008, forcing some of the largest producers in Western Canada to cut their capital budgets and leading more of the smaller gas-heavy independents to sell assets or consolidate, energy executives said at a conference in Toronto.

There’s a downside to being a top energy marketer — everyone wants to hire your employees. BP plc CEO Tony Hayward said last week the company has lost its fair share of energy traders to investment banks in recent months, but the company will not overpay to retain talent.

There’s a downside to being a top energy marketer — everyone wants to hire your employees. BP plc CEO Tony Hayward said Tuesday the company has lost its fair share of energy traders to investment banks in recent months, but he said the company will not overpay to retain talent.

A House committee is looking into allegations by BP employees that the company has allowed natural gas in a Prudhoe Bay processing plant to reach a level that is almost double the size of the facility’s design capacity.

A House committee is looking into allegations by BP employees that the company has allowed natural gas in a Prudhoe Bay processing plant to reach a level that is almost double the size of the facility’s design capacity.

Commodity Futures Trading Commission (CFTC) charges of attempted gas market manipulation against two former CMS Field Services Inc. employees have been settled by consent orders issued in U.S. District Court in Tulsa.

Commodity Futures Trading Commission (CFTC) charges of attempted gas market manipulation against two former CMS Field Services Inc. employees have been settled by consent orders issued in U.S. District Court in Tulsa.

After being roundly criticized by former members of the Enron Task Force and ex-Enron employees, prosecutors in Houston indicated they may appeal the six-year prison term given to ex-CFO Andrew Fastow last month (see Daily GPI, Sept. 27).